Risk
Instant communication has come to the computer desktop through a miraculous little software company called Mirabilis. The Tel Aviv based company has revolutionized communication across the Internet with its innovative little program called ICQ which translates to the not-quite-acronym “I Seek You”. ICQ is a program that, once installed on an Internet-connected computer, acts as […]
January 31, 1999
4 min read
Industry
In response to the opening up of Quebec’s insurance market to the Caisse Populaire Desjardins through the controversial Bill 188 which was passed by the province last summer, AXA Insurance has entered into a marketing partnership with National Bank to cross-sell product ranges. In June this year the insurer and bank will launch a jointly […]
1 min read
Bermuda-based ACE Ltd., listed on the NYSE, has acquired the global property and casualty insurance operations of CIGNA Corporation for US$3.45 billion. Subject to regulatory approval by the end of June this year, the deal will be cash financed which Ace says will be raised through the issue of new stocks and debts. The purchase […]
2 min read
Claims
Dear editor: Vibration from construction equipment, or blasting operations commonly results in claims from nearby homeowners for structural damage to their residence. It is now common to conduct pre-construction surveys of such residences to document any existing damage prior to starting the construction project. This is especially true if blasting is to occur. There are […]
Co-operators General Insurance Company is the latest insurer to take an ownership position in a broker network, trading its equity holdings in Ontario-based Barton Insurance Brokers to the Hub Group in exchange for an approximate 10% stake of the latter’s ordinary shares. Incorporated in November 1998, The Hub Group has merged fourteen brokerages across Canada […]
Home
During the third quarter of 1998, preliminary net earning returns of Canadian property and casualty companies were down $59 million in comparison to the same quarter in 1997, says the latest issue of The Belton Report. The combined impact of the claims and expense numbers in third quarter 1998 was a $188 million loss, compared […]
December 31, 1998
Queensway Financial Holdings Ltd. (QFH) has entered into an agreement to acquire Alliance Insurance Group, a property and casualty insurance holding company located in Chicago, Illinois. Alliance, posting gross premiums written totalling $17 million in 1997, specializes through subsidiaries in writing general liability and property coverages for small to medium sized businesses in 39 states […]
Last November I provided a presentation in Boston, Mass. on "Automated Fraud Control" to an audience of senior American insurance executives. While all nodded in agreement with my salient points, that being internal fraud within the insurance industry is on the rise and needs to be addressed sooner than later, I was left with the feeling that most of the listeners were too aghast at the thought that their employees might be capable of stealing.
The last six years have seen dramatic change in the structure and method of business of the property and casualty insurance industry. These “winds of change” sweeping through the industry are primarily a result of the unprecedented consolidation activity and the ever increasing level of competition, notes Richard Gardner, the outgoing president of the Registered […]
3 min read
Announcements in Coming Events are run free of charge as a service to the industry. Items should be submitted by the first of the month prior to the month in which the announcement is to appear. Insurance Institute of Ontario: Special Centennial Showcase Luncheon. More for information, call 416-362-8586. Royal York Hotel, Toronto, ON. Jan. […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
